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Consider the model of Acemoglu and Robinson. Which statement is incorrect ? During a revolution, a greater frequency of subsequent revolutions hinders the elite Democracy

Consider the model of Acemoglu and Robinson. Which statement is incorrect?

During a revolution, a greater frequency of subsequent revolutions hinders the elite
Democracy is a commitment device for the elite
The elite can always avoid revolutions by making concessions
The missing market for the gains from democracy hinders a peaceful transition in North Korea

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